Definition of point estimate in English:

noun

Although the use of discrete probabilities in a stochastic process certainly has an advantage over a single point estimate, the realistic a priori estimate of the probabilities can be a challenge.

In a nutshell, maximum likelihood gives only a point estimate of the parameters, which ignores the more detailed information contained in the curvature and multimodality of the likelihood landscape.

Two-tailed statistical significance was calculated as the frequency of obtaining a correlation coefficient whose absolute value was greater than or equal to the absolute value of the original point estimate.